Truth in Savings Disclosure – Savings Account
Effective as of: March 31, 2025
The interest rate on your account is 2.00% with an annual percentage yield of 2.00%.
Your interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on your account. We may change the interest rate on your account at any time.
Interest will be compounded on a daily basis. Interest will be credited to your account at the end of each monthly statement cycle. If you close your account, interest that has accrued but has not been posted will be paid through the day before the account is closed.
There is no initial deposit or minimum balance required to open your account. There is no minimum balance required to obtain the disclosed annual percentage yield.
We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal balance in your account each calendar day. For noncash items, interest begins to accrue no later than the business day we receive credit for your deposit.
Fee Schedule
We do not charge any fees in connection with your account. You may be responsible for paying fees to Goalsetter, as program manager, pursuant to your agreement(s) with Goalsetter. Goalsetter currently charges the following fees:
| Replacement card fee | $8.00 |
| Express shipping fee | $25.00 |
| Goalcard fee | $1.00 |
| Inactive Account/Dormancy fee | $1.00 |
| Basic Subscription fee | $3.95 per month |
Funds Availability Policy
IMPORTANT INFORMATION ABOUT YOUR ABILITY TO WITHDRAW FUNDS FROM DEPOSIT ACCOUNTS
Our policy is to make funds available to you in an expeditious manner. When you make a deposit, the availability of funds may be delayed in accordance with funds availability laws (“Hold Period”). During the Hold Period, you may not withdraw these funds in cash. This is a new Funds Availability Policy that replaces all prior versions of the Funds Availability Policy you may have previously received. All references to the Funds Availability Policy in your Deposit Account Agreement now refer to this new Funds Availability Policy.
Determining the Day your Deposit is Received by the Bank
For purposes of this Funds Availability Policy, “Business Day” means any Monday through Friday, excluding federal holidays. If you make a deposit before 2:30pm ET on a Business Day that the Bank is open, we will consider that day to be the day your deposit is received by the Bank. If you make a deposit after our cutoff time or on a day the Bank is not open, the deposit will be considered received by the Bank on the next Business Day. Except to the extent additional notice is required by law, any change in our Business Days or cutoff hour becomes effective on the day the new Business Days or cutoff time is posted by us.
Determining the Day your Funds are Available
The length of the Hold Period varies depending upon the type of deposit, how the deposit was made, and the rules that follow.
Same Day Availability. Funds from the following deposits are available on the Business Day we receive your deposit:
● Electronic direct deposits.
A Longer Hold Period May Apply
A longer Hold Period may apply under the following circumstances:
● You have overdrawn your Account repeatedly in the last six (6) months; or
● There is an emergency situation, such as a failure of communications or computer systems.
If we decide to extend the Hold Period for any of the above reasons, we will send you a notice no later than the first Business Day after the day of your deposit. Generally, the Hold Period will be extended no more than seven (7) additional Business Days beyond the normal Hold Period.
ACH Debit Transfers. Funds deposited via ACH debit transfers are not made available until we determine that the transfer was not fraudulent, and the availability may be delayed for a reasonable period of time.
Special Rules for New Account Holders
The following special rules may apply to a new Account during the first thirty (30) days your Account is open, at our discretion.
Funds from electronic direct deposits to your Account and funds from deposits of cash will be available on the Business Day that we receive the deposit.
| Contact Us: |
| Webster Bank Phone: 866-445-1842 Email: hello@goalsetter.co |
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